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28810 Northwestern Hwy - El Car Wash 4,284 SF Specialty Building Offered at $9,000,000 at a 6% Cap Rate in Southfield, MI 48034
Investment Highlights
- ZERO MANAGEMENT RESPONSIBILITIES
- PRIME COMMERCIAL MARKET
- DYNAMIC TENANT
- POTENTIAL BONUS DEPRECIATION
- ATTRACTIVE RENT INCREASES
- STRONG DEMOGRAPHICS
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction single tenant El Car Wash located at 28810 Northwestern Highway in Southfield, Michigan (the “Property”). This is a sale-leaseback of a free-standing single tenant El Car Wash consisting of a single-story 4,284 square foot building on a 1.49-acre corner parcel. El Car Wash will sign a new 20-year Absolute NNN Lease, with six (6), 5-year renewal options upon the close of escrow. The lease calls for attractive 2.0% annual rent increases throughout the base term and each of the renewal options.
The new construction property is extremely well located at the signalized intersection of Northwestern Highway (MI Route 10) and W 12 Mile Road, two of the area’s primary commercial and commuter corridors. The Property enjoys outstanding visibility, frontage and access (from both roadways) and is in the center of a dense trade area that is home to large shopping centers, national and local retailers, restaurants, and medical facilities, all of which drive traffic to the area. El Car Wash is also within minutes of several area schools and is surrounded by office campuses, large apartment communities and residential neighborhoods providing a built-in customer base.
Southfield is one of the most prominent suburban business centers in the Detroit metropolitan area, located in Oakland County about 15 miles northwest of downtown Detroit.
The new construction property is extremely well located at the signalized intersection of Northwestern Highway (MI Route 10) and W 12 Mile Road, two of the area’s primary commercial and commuter corridors. The Property enjoys outstanding visibility, frontage and access (from both roadways) and is in the center of a dense trade area that is home to large shopping centers, national and local retailers, restaurants, and medical facilities, all of which drive traffic to the area. El Car Wash is also within minutes of several area schools and is surrounded by office campuses, large apartment communities and residential neighborhoods providing a built-in customer base.
Southfield is one of the most prominent suburban business centers in the Detroit metropolitan area, located in Oakland County about 15 miles northwest of downtown Detroit.
Property Facts
| Price | $9,000,000 | Lot Size | 1.49 AC |
| Price Per SF | $2,100.84 | Construction Status | Under Construction |
| Sale Type | Investment NNN | Building Size | 4,284 SF |
| Cap Rate | 6% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2026 |
| Property Subtype | Car Wash | No. Drive In / Grade-Level Doors | 1 |
| Building Class | B | Opportunity Zone |
Yes
|
| Zoning | B-3 | ||
| Price | $9,000,000 |
| Price Per SF | $2,100.84 |
| Sale Type | Investment NNN |
| Cap Rate | 6% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.49 AC |
| Construction Status | Under Construction |
| Building Size | 4,284 SF |
| No. Stories | 1 |
| Year Built | 2026 |
| No. Drive In / Grade-Level Doors | 1 |
| Opportunity Zone |
Yes |
| Zoning | B-3 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 24-18-226-001 | Improvements Assessment | $173,880 |
| Land Assessment | $53,960 | Total Assessment | $227,840 |
Property Taxes
Parcel Number
24-18-226-001
Land Assessment
$53,960
Improvements Assessment
$173,880
Total Assessment
$227,840
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28810 Northwestern Hwy - El Car Wash
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